New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-08
THE NATIONAL TREASURY
srcprTaRY FAlRCHlLDS REPORT.
.,cr,rrs AND KxPt NDITUREs-TnE SURPLUS AN"
ruy TARIFr- CUSTOMS ADMINISTRATION
SILVER COINAGE, CERTIFICATES
AND Observation-Disclosures
BUREAU REPORTS.

SILVER COlNAGf,
AND BrLtIoN-IMMIGRATIoN
BUREAU REPORTS.
rh. erruol report of the Secretary of the Trees
ros admitted to Congress yesterday aud Is
,,;,,ed IN full below. The total ordinary revenues
.,.,s Government for the fiscal year 1887 were
sa71 4O3.277 sc. TIE expenditures S3io'S3o'-
.os,o As compared with the fiscal year oi 1856
A.. rece,pts increased S34963,55O 60. and the
.,a;,r,.s increased $25,449 O4l A. For the
escol wear ending June 80. 1888 the revenues
.o,r., and estimated. will be $3S3.OOOO 900; eX-
,,u,ai,nres including sinking fund, S3l6Sl|-
1ezAs The requirements of the SINKING tund 1or
.,r,eut fl seal year estimat ed az SAC S17, 7S5 49,
.os b.cr pr.vided for within $252.963 0S by No
vcmher by the redemption CT fractional cur
rercv and 3 Der cent bonds and the purchase of
and AZ per cent bonds. There was IN the treasury
y, De.ember l $50. 25s.7O1 80 # available fuud9
o,,, socrotorv Fajrchild thinks ha ais sum VIII
he increased 10 $40, 100000 by che end Of the
fscol year To this surplus and tie m 'anS OF pre-
wanting future accumulation the Secretary devotes
mnch space His conclusion is that internal taxa
ton should not be abolished or reduced and that
the only satisfactory method is this " add 10 the
free list as many articles as possible. Reduce
duties upon every dutiable article to the lowest
point possible; but in ascertaining these poSsbil
ties tho present situation CT labor and
business must always be kept III mind" lie
adyises that the surplus of $l40,O0J00O
xx-,D ox-i,t at a.,1 nj he
fiscal wear shall be consumed by diminishing
ia xatlon so that the annual revenues for several
wears shall he less than the expenditures. bu adds
"If, however. 1t is thought better to attempt to
buy bonds it'll it, should like 20 have specific
authority gwen to the Secretary OF the treasury
to do So"
Passing to customs administration. the Secretary
suggests that existing troubles should be remelied
BY the reduction of high I'D rdt0rem duties, the
elimination of tariff antiquities and manage
ment and simplihcation of customs laws. BE rec
ommends that speculative litigation should be
discouraged by allowing no interest, or very
low rate on judgments against The Government;
that the law relating to coverings OF imported
goods should he amended that the full amount
of tho drawback exported goods shodld he
given TO the manufacturer or exporter. Special at
tention is called to the hardships suffered by the
manufacturers OF w0rSted GOOuS rs distinguished
from wooens The abolition and consolidation OF
customs districts is urged.
Secretary Fairchlld declares that 1t is awaste to
con and store any more silver dollars at present,
and recommends that the Secretary of the Treas
ury should be allowed TO issue certificates
against the coming value of the bullion
bought, coming only So many dollars as lie
might think expedent He also advises that dis
erection be given to the Secretary, within fixed
limits TO stop the purchase of bullion since It's eX-
cessiye accumulation is a menace 10 the silver That
the people hold and TO the United states notes and
National bank notes. The Secretary recommends
some changes in the immigration laws ana gives
brief summaries of the reports of the several
bureaus in the Treasury Department.
The Bureau reports are referred 10 briefly. The
recommendations of the Commissioner of Internal
Revenue as to the taxation of fractions of gallons
of distilled spirits ana the simplIhcatlon OF the
oleomargarne law are approved. The work OF
the Revenue Marine Service is told IN
brief and It is shown that assist
ance was rendered to 207 vessels. valued,
with their cargoes. at 81 969,45O The demands
In the last year the Life-savlng Service and the
Marine Hospital Service were greater than usual
The Lighthouse Service has enlarged Its field OF
work but some of its lights are IN need of extensive
repairs The work of the Coast and Geodetic sur
yey has been restricted by limited appropria tons
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